Personal-Use Self-monitoring Blood Glucose Devices Market Size

Self-Monitoring Blood Glucose Devices Market Analysis

The Personal-Use Self-monitoring Blood Glucose Devices Market size is estimated at USD 7.22 billion in 2024, and is expected to reach USD 9.77 billion by 2029, growing at a CAGR of 6.23% during the forecast period (2024-2029).

The global rise in diabetes cases is leading to an increased need for self-monitoring blood glucose (SMBG) devices. Due to advancements in technology and a greater emphasis on managing diabetes, the SMBG devices market is expected to experience significant growth in the foreseeable future. This piece delves into the reasons behind this growth and provides insights into the future prospects of SMBG devices.

The pandemic also highlighted opportunities for continuing and expanding innovations in the delivery of diabetes care, through virtual consultations between healthcare providers and people with diabetes, and the use of diabetes technology. Crisis management has created unprecedented interest in remote care from both patients and providers and removed many long-standing regulatory barriers.

The rate of newly diagnosed Type 1 and Type 2 diabetes cases is seen to increase, mainly due to obesity, unhealthy diet, and physical inactivity. The rapidly increasing incidence and prevalence of diabetic patients and healthcare expenditure in developed countries are indications of the increasing usage of diabetic care products. Leading manufacturers are focusing on technological innovations and developing advanced products to gain a substantial market share.

Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period.